By Sonia D. and Sasha A.
Why Would Your Campaign Benefit From a Video?
If a picture is worth a thousand words, a video could very well be worth a thousand sales. What matters most to the funding campaign? Contributions. If you’re like most people, the first thing you do when visiting a funding campaign page is click the play button. A video is by far the best way to get to know the campaign, the startup and its products or services, as well as the emotions, motivations and character of its founders team. A video is a good indicator of potential success and a demonstration of the efforts the team has put in their campaign.
Consider these statistics:
- A study done by Econsultancy concluded that visitors who viewed product videos were 97% more likely to buy your product after watching a video of it than visitors who did not.
- Video now appears in 70% of the top 100 search results listings.
- Crowdfunding statistics have shown that campaigns with a video have a much higher success rate of 50% vs. 30% than those who don’t. Perhaps even more important is that funding campaign profiles with a video raise more funds.
- Finally, to drive the point home, Retail Touchpoints found that shoppers who viewed videos were 174% more likely to purchase than viewers who did not.
This is one marketing force you can’t afford to ignore!
While having a video is not required to launch a Funding Campaign on AlumVest, we highly recommend that your campaign include a video. Please read on below for how you can create a compelling video, the methods available to you and how AlumVest can help.
Making Your Funding Campaign Video
We know that making a video can be intimidating; it sounds like a lengthy and expensive process and many of us don’t like being in front of a camera. But we also know that making a video is a challenge worth taking on. It says you are passionate about what you’re doing enough to create an elegant and effective way of presenting yourself, your company, and your products or services. It’s an effort worth the potential big reward. Don’t be intimidated, we’re here to help!
How to Make Viral Marketing Videos
Regardless how creative and fun your funding campaign video is and whether it is professional or bare-bones, you’ll want to consider the following details:
- Is this a video for your company or for the funding campaign pitch? — This is always a strategic choice depending on how compelling your idea and your campaign profile are. For some videos, we found that the founders who enthusiastically explain their company and idea without a direct campaign pitch do an outstanding job of speaking to the viewer and get them to share their passion in order to contribute to the funding campaign. In a way, a video becomes the startup’s digital business card that can be easily shared, seen and understood. Other videos need to tell a more personal story behind your specific funding campaign and why you need the funds. Where’d you get the idea? What stage is it at now? How are you feeling about it?
- This decision will need to be made depending on the type of product or service you are providing and the quality and ease with which the viewer can relate to your company by reading your campaign profile. For example, funding campaign videos about great consumer products usually speak for themselves. On the other hand, if you are trying to explain the potential market for your new product or service that may not be initially well understood, it will help to highlight the startup and its team and the qualities that they possess that will help you succeed.
- Videos with segments that can be substituted one for another can accomplish both purposes — an effective pitch for your company and a direct and engaging story of your funding campaign.
· Professional Video vs. Getting Personal — Depending on the choice you make of whether to make a video “digital business card” of your company or putting a more personal touch on it (self-explaining your company and campaign), there are a few options to choose from:
o If you decide to make a professional video for your company, there are a ton of great video companies out there that would do a great job helping you put together your company video. AlumVest has partnered with an awesome company that can help you create a professional compelling video within your budget. Plus you’ll benefit from our connections by getting the AlumVest discount.
o Most “personal touch” videos show the founder telling their startup’s story straight into the camera. You can spend days shooting and editing, or you can just knock it out with a few friends during the day. It doesn’t have to be flawless; it just has to be you.
o Don’t be afraid to put your face in front of the camera and let people see who they’re supporting. You’d be surprised what a difference this engagement makes.
· Tell the Viewers Who You Are — A good funding campaign video includes a brief and to-the-point description of your business, business plan and market. Remember to make your video viewer friendly and easy to understand.
· Be Clear, Direct and Engaging — A good video is a great opportunity to capture the viewer’s attention. Whether it’s funny or evocative, you need to move people and get them to love your idea, passion, solution or vision. Viewers tend not to remember blah or merely factual stuff.
· Keep It Short — For most companies, this means 1-2 minutes at most. For something that may be a bit more complex, the videos may be a bit longer.
· Hook Them Early and Often — You have 2-7 seconds before viewers click away; every 11 seconds you need to keep their attention. Viewers don’t have time to hear your life story and won’t care until after you have gotten them interested in your solution to their problem first. Make them laugh out or even annoy them and they are more likely to keep watching and send it on.
· Give Viewers Clickable Moments — Identify triggers that will make the targeted audience click on your links, your rewards and that all important “Fund This Campaign” button.
· Be Sincere — Have an honest and believable story as the backdrop. If a viewer even for a moment would believe that you are being insincere, that would be enough for people to leave your video and get no traction. Be real.
· Ask People for Support — Come out and ask for people’s support, explaining why you need it and what you’ll do with their money.
· Consider Talking About Your Team and Rewards — Talk about how awesome your team and rewards are, using any images you can. Talk about your schools and background (concisely!). Team and rewards information are especially applicable for a Funding Campaign video pitch.
· Be Embeddable — In order for the video to be truly viral, make it portable. Allow easy embeds, downloads comments and URL shorteners (e.g. bit.ly) to create social media-friendly links.
· Remember the Little Things — Don’t put any copyrighted music in your video without permission from the author! There are many music resources you can use: SoundCloud, Vimeo Music Store, Free Music Archive, and ccMixter. And finally a few technical specs: videos must be 1000MB or less and have a file type of MOV, MPEG, AVI, MP4, 3GP, WMV, or FLV.
· Thank the Viewers!
The audience craves great content and to be engaged and influenced. So have fun with the videos and your viewers will thank you with their sharing, contributions and thumbs up.
Based on our experience, cool videos that speak to and engage the audience, lead to funded campaigns, greater product/service adoption or sales and occasionally exits. Please feel free to reach out to our team members, Lynn at firstname.lastname@example.org or Sasha at email@example.com, with any questions, suggestions or for our voiceover skills! (just kidding on that last part).